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Royal Mint to allow pension investors access to gold

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Pension investors can now invest directly in gold through the Royal Mint for the first time.

From today, customers – most likely in Sipps – can invest in either Royal Mint Refinery gold Bullion bars or the Mint’s Signature Gold service, which allows smaller investments in fractions of gold bars.

However, Dentons director of technical services Martin Tilley says under the current proposals providers operating dual trusteeship structures are excluded.

This means many Sipp and SSAS providers are currently barred from the investments, Tilley says.

The Royal Mint charges 1 per cent plus VAT for gold Bullion, and 0.5 per cent plus VAT for the Signature service.

Once purchased the gold will be stored in The Vault, the Mint’s secure facility in Wales.

Talbot and Muir Head of Pensions Technical Claire Trott says: “It is great that Royal Mint are making investing in gold a simpler thing for investors to do. We do from time to time have enquiries from people wanting to do this because of the security they see in physical gold.

“We already have a relationship with Royal Mint and can see this new facility opening up gold investment to those that have previously been put off by the complexities.”

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